Oils & Fats - Turkey

Turkey

Highlights

Revenue in the Oils & Fats market amounts to US$4.34bn in 2024. The market is expected to grow annually by 15.43% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$46bn in 2024).
In relation to total population figures, per person revenues of US$50.35 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 996.00m kg by 2029. The Oils & Fats market is expected to show a volume growth of 8.5% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 8.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats Market in Turkey is witnessing considerable growth, fueled by rising consumer demand for healthier food options, increased awareness of nutrition, and the expanding availability of diverse edible oils and fats in retail channels.

Customer preferences: In Turkey, consumers are increasingly gravitating towards plant-based oils and healthy fats, reflecting a broader shift towards wellness and sustainability. This trend is bolstered by a younger demographic that prioritizes nutrition and environmental impact, favoring oils like olive and avocado over traditional options. Additionally, the rise of home cooking, driven by lifestyle changes and social media influences, has led to a heightened interest in diverse cooking fats, encouraging experimentation with various flavor profiles and health benefits in everyday meals.

Trends in the market: In Turkey, the Oils & Fats Market is experiencing a notable shift towards healthier and more sustainable options, with consumers increasingly opting for plant-based oils such as olive, avocado, and coconut. This trend is fueled by a health-conscious younger generation that values nutritional benefits and eco-friendly practices. The growing popularity of home cooking, spurred by social media and lifestyle changes, has led to greater experimentation with diverse cooking fats, enhancing flavor and health in daily meals. This evolution presents significant opportunities for producers and retailers to innovate and cater to the changing preferences of consumers.

Local special circumstances: In Turkey, the Oils & Fats Market is uniquely influenced by its rich agricultural heritage and diverse climate, which fosters a wide variety of oil-producing crops, including olives and sunflowers. The cultural significance of olive oil in Turkish cuisine further strengthens its market presence. Additionally, regulatory frameworks supporting organic farming and sustainable practices are gaining traction, encouraging local producers to innovate. These factors, combined with a rising consumer preference for health-conscious products, drive a dynamic market landscape distinct from other regions.

Underlying macroeconomic factors: The Oils & Fats Market in Turkey is significantly shaped by macroeconomic factors such as global commodity prices, trade dynamics, and domestic agricultural productivity. Fluctuations in the prices of key raw materials, like sunflower seeds and olives, directly impact production costs and consumer pricing. Additionally, Turkey's economic health, characterized by inflation rates and currency stability, influences purchasing power and consumer behavior. Government policies promoting agricultural subsidies and investments in sustainable practices bolster local production. Furthermore, global trends towards healthier eating habits and sustainable sourcing are driving innovation within the market, aligning consumer preferences with industry growth.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.